Grayscale hires BNY Mellon for asset services ahead of GBTC's ETF conversion

Grayscale Bitcoin Trust (GBTC) will use Bank of New York Mellon (BK) as its asset servicing provider as of Oct. 1, 2021.BNY Mellon will provide the trust with fund accounting and administration as of that date; furthermore it's expected to provide transfer agency and ETF services for GBTC once it converts to an ETF.Grayscale says the agreement will provide "improved scalability, resiliency, and automation" through BNY Mellon's platform, including its proprietary ETF Center, which offers technology specifically to support digital asset ETFs.GBTC stock slips 0.6% in premarket trading.In April, Grayscale reaffirmed its commitment to turning GBTC into an ETF